Earlier yesterday, it was rumored that Director ‘K Balachander’s Kavithalayaa Production and his house are put to an auction for the unpaid amount of Rs. 1 crore and 36 lakhs. Today, a Press Release from Kavithalayaa Productions cleared the issue. As per the Press Release, it is said that those rumors are baseless and false. The properties of the director have not come out for the auction. It is said that Kavithalayaa Productions have acquired a loan on working capital and it is to be paid on or before 31st March 2018. As a part of their procedure, the UCO Bank published it along with its auction notice. It was misunderstood by someone and the rumor spread virally. The Production Company also requests the well-wishers, fans and friends of Director KB not to get misled by these rumors. Pushpa Kandaswamy
, the daughter of the maverick director KB, has been managing the banner. Hope, the statement from the production banner might have cooled the fans and well-wishers of KB Sir.